Eligibility verification for real-time offers

ABSTRACT

A mobile device corresponding to the present invention submits a credit application at a point of sale terminal, and a user of the mobile device receives credit that pays the merchant for a purchase made by the user at the merchant.

CROSS-REFERENCE TO RELATED APPLICATIONS

The present application claims the priority benefit of U.S. provisionalapplication No. 62/093,239 filed Dec. 17, 2014 entitled “Real TimeCredit Offers,” the disclosure of which is hereby incorporated byreference.

BACKGROUND Field of the Invention

The present invention generally relates to near field communications(NFC). More specifically, the present invention relates to a mobileelectronic device equipped with a near field data communicationinterface that is provided with an offer to receive credit from afinancial institution while shopping at a merchant.

Description of the Related Art

Near field data communications (NFC) are currently being used byconsumers to make secure financial transactions when purchasing goods orservices. NFC is a standardized wireless data communication technologythat communicates information over short distances. NFC commonlycommunicates using a frequency of 13.56 megahertz (MHz) with data ratesapproaching 424 kilo-bits per second (Kb/sec). NFC equipped devices ofvarious sorts are available in the marketplace today. Today smartphonesand mobile devices using NFC are commonly used to make payments usinginformation identifying credit cards, debit cards, and loyalty cards.

NFC devices currently do not allow for submission of a creditapplication and receipt of credit from a financial institution whenmaking a purchase at a merchant. Since users of mobile devices wouldbenefit from being able to submit a credit application and receivecredit from a financial institution concurrent with purchase of a goodin real time, there is a need in the art for a system and a method wherea user of a mobile device submits a credit application using NFC datacommunications and receives credit for purchasing an item at the timethe item is being purchased.

SUMMARY OF THE PRESENTLY CLAIMED INVENTION

Embodiments of the present invention include a system and a method for auser of a mobile electronic device to submit a credit application andreceive credit in real time. The mobile device may be equipped with anear field communication (NFC) data communication interface and agraphical user interface (GUI) displayed on a display at the mobiledevice. The mobile device may receive an input through the GUIindicating that a user of the mobile device wishes to submit a requestto receive credit when making a purchase at a merchant. The mobiledevice, after receiving the input, may transmit the request to a pointof sale terminal at the merchant using the NFC data communicationinterface at the mobile device. The request transmitted may includeinformation about the request and/or may include an email address of theuser.

The user may receive a response to the request that includes a link suchas a universal resource locator (URL). The user may then select the linkthat may direct the user mobile device to open and display a creditapplication in the GUI. After completing the credit applicationdisplayed in the GUI, information relating to the credit application maythen be transmitted over the NFC data communication interface to thepoint of sale terminal. The point of sale terminal may forward thecredit application to one or more credit providers.

A credit provider may agree to provide credit to the user for purchasingthe item. The credit provider that agreed to provide the credit thenpays the merchant for the purchase and the mobile device may thenreceive a message indicating that the request for credit has beenaccepted and that the purchase has been completed.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 illustrates a prior art basic authorization process and a priorart payment process.

FIG. 2 illustrates prior art electronic devices communicating using NFCdata communications.

FIG. 3 illustrates a customer NFC enabled phone communicating with a NFCterminal at a merchant.

FIG. 4 illustrates a mobile wallet graphical user interface (GUI) thatmay be displayed on a mobile device.

FIG. 5 illustrates an exemplary method that may be performed by realtime credit software on a mobile device.

FIG. 6 illustrates an exemplary card sign up methodology.

FIG. 7 illustrates an exemplary credit card offer methodology.

FIG. 8 illustrates an exemplary payment methodology.

FIG. 9 illustrates an exemplary micro-finance methodology.

FIG. 10 illustrates a methodology consistent with the disclosure of thepresent invention.

DETAILED DESCRIPTION

Embodiments of the present invention include a system and a method for auser of a mobile electronic device to submit a credit application andreceive credit in real time.

Mobile electronic devices described herein include, yet are not limitedto smartphones, iPhones, Android phones, iPads, notebook computers,computers built into a car, and mobile devices dedicated to performingNFC communications.

The various methods may be performed by software operating inconjunction with hardware. For example, instructions executed by aprocessor, the instructions otherwise stored in a non-transitorycomputer readable medium such as memory. Various interfaces may beimplemented—both communications and interface. One skilled in the artwill appreciate the various requisite components of a mobile device andintegration of the same with one or more of the figures and/ordescriptions included herein.

Systems that provide real time credit to customer of a merchantdescribed herein may be implemented in software installed on a computer,or a computer sever. The computer or computer server may communicatewith a computer at the merchant or may communicate directly with amerchant point of sale terminal located at the merchant.

FIG. 1 illustrates a prior art basic authorization process and a priorart payment process. FIG. 1 illustrates two separate flow charts, afirst flow chart of a prior art basic authorization process, and asecond flow chart of a basic prior art payment process. The basicauthorization process begins with a customer with a phone that supportsNFC communications sending a purchase order 1 a to a merchant with acontactless terminal. The merchant with the contactless terminal thensends a request 2 a to the merchant bank. Next the merchant bankforwards credit card information 3 a provided with the purchase order toa credit card payment processing center. The credit card paymentprocessing center then forwards the credit card information 4 a to thecustomer bank, and the customer bank approves or declines the purchase 5a. Next a message is sent back to the merchant 6 a indicating that thepurchase has been approved or declined.

FIG. 1 also indicates that funds are approved or declined using acombination of the merchant bank, the credit card payment processingcenter, and the customer bank. FIG. 1 also depicts alternatecommunication pathways for performing the transactions. The alternativecommunication pathway includes a trusted service manager (TSM)communicating with the customer bank, and with the credit card paymentprocessing center. The TSM is an entity that serves a trustedintermediary between mobile devices, networks that service mobiledevices, and software applications. The TSM securely coordinatespayments from a financial institution to a merchant that have beenauthorized by a mobile device. The alternate pathway also includes acarrier with over the air (OTA) support communicating with the TSM andwith the customer phone. Examples of a carrier with OTA support arecellular companies like Verizon, AT&T, and T-Mobile. The basicauthorization process may be performed using older phone lines, or itmay be performed using modern wireless cellular networks.

The basic payment process of FIG. 1 illustrates the merchant sending asettlement request 1 b to the merchant bank, the merchant bank thensends a settlement request 2 b to the customer bank. Then the creditcard payment processing company forwards the request 3 b. Next, thecustomer bank transfers funds to the merchant bank 4 b. FIG. 1 showsthat communications between the merchant bank, the credit card paymentprocessing center, and the customer bank are used to transfer from thecustomer bank to the merchant bank. The basic payment flow chart alsoshows a customer phone communicating with a carrier with OTA support andwith a TSM. Here the TSM also communicates with the credit card paymentsystem and with the customer bank.

FIG. 2 illustrates prior art electronic devices communicating using NFCdata communications. FIG. 2 shows merchant software installed on apayment terminal. FIG. 2 also illustrates the payment terminalcommunicating with a mobile electronic devices. NFC communicationstransferred between the payment terminal and the mobile device includedollar ($) off a purchase, a percentage (%) off a purchase, a receipt, aloyalty account identifier (ID), a payment account ID, a customuniversal resource locator (URL), and other structured data.

FIG. 3 illustrates a customer NFC enabled phone communicating with a NFCterminal at a merchant. FIG. 3 also illustrates the customer NFC enabledphone communicating with a payment system over the cloud or internet.FIG. 3 includes a customer phone including mobile device real timecredit software S0. FIG. 3 also includes a merchant NFC enabled system,a point of sale display at the merchant, an instant merchant card signup system at the merchant and a payment system. The merchant systemincludes merchant card sign up software S1.

The payment system includes a merchant bank system, a trusted servicemanager system, a credit card payment processing center, and a customerbank system. The merchant bank system includes local credit card offerssoftware S2. The merchant bank system is shown communicating orincluding local credit offers. The credit card payment processing systemincludes a credit card payment bidding software S3. The paymentprocessing system is shown communicating with or including a biddingcredit network. The customer bank system includes micro-financingsoftware S4. The customer bank system is shown as communicating with orincluding a micro-financing banking network.

FIG. 4 illustrates a mobile wallet graphical user interface (GUI) thatmay be displayed on a mobile device. The GUI includes a plurality ofselection options relating to normal credit card processing, requestingreal time credit offers, and other real time credit offerings. FIG. 4includes a profile selection box that, when selected, may allow anindividual to enter information about themselves such as a name, anaddress, an email address, or a phone number.

Selection boxes under normal credit cards include VISA, Master Card, andAmerican Express. Selection boxes under request for real time creditoffers include a “from merchant” selection box, a “from merchant bank”selection box, an “out for bid-credit card” selection box, and a“micro-financing selection box.” Selection boxes under real time creditoffer include a Home Depot selection box, a local bank selection XXXbox, a best bidder YYY selection box, and a micro financing ZZZselection box. The Home Depot selection box indicates that the HomeDepot credit card is OK to use. FIG. 4 also indicates that the GUI islocated inside of software S0.

FIG. 5 illustrates an exemplary method that may be performed by realtime credit software on a mobile device. A first step of the method ofFIG. 5 is a step where a request for a real time credit offer is sentfrom a mobile device. Next, the mobile device polls merchants for aresponse to the request. The third step in the method of FIG. 5 is adetermination whether a response URL from a merchant credit card (CC)sigh up has been received. When yes, the program flow moves to a fourthstep that opens the URL and where forms may be filled out. Next, in afifth step, the program flow moves to a step where the forms areuploaded to a merchant system and an acknowledgement is received. Thefifth step may allow mobile device to receive a merchant credit cardthat may be downloaded to the mobile device. Next, in a sixth step, themerchant credit card is OK to use.

When the determination box in step three has not received a response,the program flow moves to another determination box in step seven of theflow chart. When a URL from a merchant bank has been received, the URLis opened and forms are filled out. Next, in an eighth step, the formsare uploaded to the local merchant bank (in a ninth step) and anacknowledgement is sent to the mobile device indicating that it is OK touse a credit line from the local merchant bank in a tenth step.

When the determination box in the seventh step has not received aresponse, the program flow moves to another determination box in stepeleven of the flow chart. When a URL from a best bidder has beenreceived, the URL is opened and forms are filled out in a twelfth step.Next, in an thirteenth step, the forms are uploaded to the best bidderand an acknowledgement is sent to the mobile device indicating that itis OK to use a credit line from the best bidder in a fourteenth step.

When the determination box in step eleven has not received a response,the program flow moves to step fifteen where a best micro-financingbanker URL is accessed. Next, in step 16, the forms are uploaded to thebest micro-financing banker and an acknowledgement is sent to the mobiledevice indicating that it is OK to use a credit line from the bestmicro-financing banker.

FIG. 6 illustrates an exemplary card sign up methodology. In a firststep of the method of FIG. 6, merchant handshake software and a mobiledevice may initiate a communication over a NFC data communicationinterface. In a second step of the method of FIG. 6, an input request isreceived by the merchant card sign up software that includes a useremail address. Next, in step three of the method of FIG. 6, adetermination is made as to whether the request is a normal creditrequest. When the request is a normal credit request, program flow movesto the fourth step of the method where the request is sent to a normalcredit process payment system that processes the request.

When step three of the method of FIG. 6 determines that the credit cardrequest is not normal, the program flow moves to a second determinationstep where a determination is made as to whether the request is for amerchant card sign up. When the credit request is for a merchant cardsign up, the program flow moves to a sixth step. The sixth step of themethod of FIG. 6 sends a URL for the merchant CC sign up back to amobile device of the requestor. Next, in a seventh step of the method ofFIG. 6, a verification is sent to the requestor (customer) indicatingthat the request has been acknowledged. Next, in an eighth step, apayment is processed (verified) using the merchant CC. Anacknowledgement is sent, in a ninth step, to the customer indicatingthat the payment has been received. At this point in time, the user ofthe mobile device has received credit from a new credit provider in realtime when purchasing an item.

When the fifth step of FIG. 6 determines that the request is not for amerchant card sign up, the program flows moves to step ten where therequest is sent to an appropriate payment system S1-S4. After step ten,step eleven of FIG. 6 sends the request and the user email and waits foracknowledgement from a payment system.

FIG. 7 illustrates an exemplary credit card offer methodology. A firststep in FIG. 7 receives a request for credit from a mobile device. Thesecond step of FIG. 7 determines whether the request is for a localcredit card offering. When the request is for a local credit card, theprogram flow of FIG. 7 moves to a third step that sends a URL to thecustomer email address. The URL links to a local credit card applicationform. Once received, user (a customer) of the mobile device must fillout the application before they can be receive an electronic credit cardfrom a local credit provider. In a fourth step of FIG. 7, anacknowledgement may be sent to the customer indicating that their creditapplication has been received. Then, in a fifth step of FIG. 7, acustomer payment may be verified. The fifth step is where the user ofthe mobile device receives an electronic credit when the local creditprovider pays to a purchase (verifies customer payment) made by theuser. After the local credit provider pays for the purchase, anacknowledgement that the payment has been made is sent to the usermobile device.

When the request received in step two is not a request for a localcredit card offer, the program flow moves to a step that may sendinformation to a credit card processing center after which a response iswaited form.

FIG. 8 illustrates an exemplary payment methodology. In the first stepof FIG. 8, input is received at a card bidding system. Then in a secondstep of FIG. 8, a determination is made as to whether the request is fora bidding card. When yes, the program flow moves to a third step where aURL is sent to the customer email address. The URL links to a websitewhere a prospective customer may fill out a request to receive a creditcard from a best bidder. In step four of FIG. 8, the credit card paymentbidding software sends an acknowledgement that a credit card applicationforms have been received. Next, in a fifth step, the forms are sent to abidding credit network. In a sixth step a best bidder is determined.After the best bidder has been determined, the bidder is verified in aseventh step of FIG. 8. Then a customer payment is paid (verified) bythe best bidder. Then an acknowledgment that the payment has been madeis sent to the user mobile device.

When step two of FIG. 8 determines that the request is not for a biddingcredit card, the program flow moves to a step where the input request issent to a customer bank to await a response.

FIG. 9 illustrates an exemplary micro-finance methodology. In the firststep of FIG. 9, an input is received at a micro-financing system. Thenin a second step of FIG. 9, a determination is made that the request isfor micro-financing. Then the flow chart of FIG. 9 moves to a third stepwhere a URL is sent to the customer email address. The URL links to awebsite where a prospective customer may fill out forms to receive aline of credit. In step four of FIG. 9, the micro-financing softwaresends an acknowledgement that a credit application forms have beenreceived. Next, in step five, the forms are sent to a micro-financingcredit network and a best micro-financer is determined in step six.After the best micro-financer has been determined, the micro-financer isverified in step seven. In step eight of FIG. 9, a customer payment ispaid (verified) by the micro-financer. An acknowledgment is then sent tothe user mobile device indicating that the payment has been made.

FIG. 10 illustrates a methodology consistent with the disclosure of thepresent invention. The flow chart begins with a first step that mayprovide a customer with a phone equipped with a NFC data communicationinterface. This step may also provide a merchant with a point of saledisplay, provide a payment system of a merchant bank, provide a customerbank system with credit card processing capabilities, provide a trustedservice provider system, and provide the ability for each of thesesystems to communicate over the cloud or internet.

In a second step of FIG. 10, the customer phone may be provided withmobile device real time credit software. Then, in step three, themerchant point of sale display may be provided with merchant card signup software. Next, in step four of FIG. 10, a merchant bank may beprovided with local credit offer software.

In the fifth step of FIG. 10, a credit card payment processing systemmay be provided with credit card payment bidding system software. Then,in step six, a customer bank may be provided with micro-financingsoftware.

In step seven of FIG. 10, a customer may be allowed to request real timecredit from a merchant using an NFC data communication interface. Inthis step, the customer may also be allowed to request credit from amerchant bank, from a credit card payment processing system, or from acustomer bank. The customer may provide their email address, fill out acredit application form on a website identified by a URL, and receive acredit card or credit line (loan card) on their mobile device.

The present invention allows a user of a mobile device to request creditfrom one or more of a merchant, a merchant bank, a credit cardprocessing center, a credit bidding network, or a micro-financer whenthe user is participating in a transaction with the merchant. The creditmay be granted to the user in real time and the credit provider will payfor the transaction while the user is at the merchant.

While various embodiments have been described above, it should beunderstood that they have been presented by way of example only, and notlimitation. The descriptions are not intended to limit the scope of theinvention to the particular forms set forth herein. Thus, the breadthand scope of a preferred embodiment should not be limited by any of theabove-described exemplary embodiments. It should be understood that theabove description is illustrative and not restrictive. To the contrary,the present descriptions are intended to cover such alternatives,modifications, and equivalents as may be included within the spirit andscope of the invention as defined by the appended claims and otherwiseappreciated by one of ordinary skill in the art. The scope of theinvention should, therefore, be determined not with reference to theabove description, but instead should be determined with reference tothe appended claims along with their full scope of equivalents.

What is claimed is:
 1. A method for verifying eligibility for real-timeoffers, the method comprising: initiating a transaction between a mobiledevice and a point of sale terminal over a near field communication(NFC) interface, wherein the mobile device is associated with at leastone NFC-based payment system and a profile indicating a user locale;receiving one or more offers in real-time from one or more offer devicesover a communication network, the real-time offers regarding theinitiated transaction for which a user of the mobile device is eligible;transmitting information over the wireless communication networkindicating that one of the real-time offers is selected, wherein theselected offer is associated with a different NFC-based payment systemthat is not yet associated with the mobile device; modifying thetransaction based on the selected offer, wherein modifying thetransaction comprises specifying that at least a portion of thetransaction is to be processed by the different NFC-based paymentsystem; and downloading information regarding the different NFC-basedpayment system onto the mobile device, wherein the modified transactionis processed via the different NFC-based payment system in accordancewith the downloaded information.
 2. The method of claim 1, furthercomprising polling one or more offer devices over the wirelesscommunication network upon initiating the transaction, wherein thereceived offers are responsive to the polling.
 3. The method of claim 2,wherein polling the one or more offer devices is based on at least onetype of offer.
 4. The method of claim 3, further comprising receivingprofile information via a user interface of the mobile device, theprofile information specifying the at least one type of offer.
 5. Themethod of claim 2, wherein at least one of the received offers is sentby electronic mail.
 6. The method of claim 5, wherein polling the one ormore offer devices comprises providing an email address associated withthe mobile device in an offer request sent to the polled offer devicesover the wireless communication network.
 7. The method of claim 1,wherein at least one of the received offers includes a uniform resourcelocator (URL) link to website form associated with the one or more offerdevices.
 8. The method of claim 1, wherein another portion of thetransaction is processed by the at least one NFC-based payment systemassociated with the mobile device.
 9. The method of claim 8, furthercomprising receiving verification that the other portion of thetransaction is processed by the at least one NFC-based payment systemassociated with the mobile device before modifying the transaction. 10.A device for verifying eligibility for real-time offers, the methodcomprising: an NFC interface that initiates a transaction between amobile device and a point of sale terminal, wherein the mobile device isassociated with at least one NFC-based payment system and a profileindicating a user locale; a wireless communication network interfacethat: receives one or more offers in real-time from one or more offerdevices over a communication network, the real-time offers regarding theinitiated transaction for which a user of the mobile device is eligible;and transmits information over the wireless communication networkindicating that one of the real-time offers is selected, wherein theselected offer is associated with a different NFC-based payment systemthat is not yet associated with the mobile device; and a processor thatexecutes instructions stored in memory, wherein execution of theinstructions by the processor modifies the transaction based on theselected offer, wherein modifying the transaction comprises specifyingthat at least a portion of the transaction is to be processed by thedifferent NFC-based payment system, wherein the mobile device downloadsinformation regarding the different NFC-based payment system, andwherein the modified transaction is processed via the differentNFC-based payment system in accordance with the downloaded information.11. The device of claim 10, wherein the wireless communication networkinterface further polls one or more offer devices over the wirelesscommunication network upon initiation of the transaction, wherein thereceived offers are responsive to the polling.
 12. The device of claim11, wherein the wireless communication network interface polls the oneor more offer devices based on at least one type of offer.
 13. Thedevice of claim 12, further comprising a user interface that receivesprofile information specifying the at least one type of offer.
 14. Thedevice of claim 11, wherein at least one of the received offers is sentby electronic mail.
 15. The device of claim 14, wherein the wirelesscommunication network interface polls the one or more offer devices byproviding an email address associated with the mobile device in an offerrequest sent to the polled offer devices over the wireless communicationnetwork.
 16. The device of claim 10, wherein at least one of thereceived offers includes a uniform resource locator (URL) link towebsite form associated with the one or more offer devices.
 17. Thedevice of claim 10, wherein another portion of the transaction isprocessed by the at least one NFC-based payment system associated withthe mobile device.
 18. The device of claim 17, wherein the wirelesscommunication network interface further receives verification that theother portion of the transaction is processed by the at least oneNFC-based payment system associated with the mobile device beforemodifying the transaction.
 19. A non-transitory computer-readablestorage medium, having embodied thereon a program executable by aprocessor to perform a method for verifying eligibility for real-timeoffers, the method comprising: initiating a transaction between a mobiledevice and a point of sale terminal over a near field communication(NFC) interface, wherein the mobile device is associated with at leastone NFC-based payment system and a profile indicating a user locale;receiving one or more offers in real-time from one or more offer devicesover a communication network, the real-time offers regarding theinitiated transaction for which a user of the mobile device is eligible;transmitting information over the wireless communication networkindicating that one of the real-time offers is selected, wherein theselected offer is associated with a different NFC-based payment systemthat is not yet associated with the mobile device; modifying thetransaction based on the selected offer, wherein modifying thetransaction comprises specifying that at least a portion of thetransaction is to be processed by the different NFC-based paymentsystem; and downloading information regarding the different NFC-basedpayment system onto the mobile device, wherein the modified transactionis processed via the different NFC-based payment system in accordancewith the downloaded information.